The Full Belmonte, 1/7/2023
Haiyun Jiang/The New York Times
“Representative Kevin McCarthy won election as House speaker on the 15th ballot, the longest such fight since before the Civil War. He gave major concessions to far-right holdouts.” [New York Times]
“The House speaker fight made clear that Congress will almost certainly be in disarray for the next two years.” [New York Times]
What are McCarthy's concessions?
“McCarthy offered up weighty compromises that thawed most of his opponents' resistance, including specific legislative on border security and congressional term limits, more key committee assignments for Freedom Caucus members and critical House rule changes that decentralized the speaker's power.
Among the most controversial proposals is an agreement that would allow a single member to call for a vote ousting the speaker. Ouster would still require a majority of the House but the rule change would potentially give immense power to begin the process.
Under former Speaker Nancy Pelosi's term, such a ‘motion to vacate’ could only be initiated if a majority of her Democratic caucus called for such a step.
Critics of the plan said this would significantly weaken McCarthy and effectively make the speaker a ceremonial job that could make hamper his ability to govern over the next two years.
But McCarthy rejected those arguments, saying this week he ‘thinks he's very fine’ with the compromises.
Other proposed changes to lure more voters into the GOP leader's column were giving the ultra-conservative Freedom Caucus more seats on key congressional panels, such as the powerful House Rules Committee.
Another would return to a previous rule that allowed open debate and a marathon of amendments on government funding measures, which fiscal conservatives have urged for years.
What are Biden, Democrats saying?
President Joe Biden, who had chided House Republicans for most of this week, sounded a collaborative tone after McCarthy's win.
‘The American people expect their leaders to govern in a way that puts their needs above all else, and that is what we need to do now," the president said in a statement issued by the White House. "I am prepared to work with Republicans when I can and voters made clear that they expect Republicans to be prepared to work with me as well.’” [USA Today]
People who haven't had COVID will likely catch XBB.1.5 – and many will get reinfected, experts say
Variant XBB.1.5 is very contagious, meaning everyone is at risk even if you've already been infected. As the U.S. enters year 3 of the pandemic, here's an update on the state of COVID.
Karen Weintraub USA TODAY
“The newest COVID-19 variant is so contagious that even people who've avoided it so far are getting infected and the 80% of Americans who've already been infected are likely to catch it again, experts say.
Essentially, everyone in the country is at risk for infection now, even if they're super careful, up to date on vaccines or have caught it before, said Paula Cannon, a virologist at the University of Southern California.
‘It's crazy infectious,’ said Cannon, who is recovering from her first case of COVID-19, caught when she was vacationing over the holidays in her native Britain.
‘All the things that have protected you for the past couple of years, I don't think are going to protect you against this new crop of variants,’ she said.
The number of severe infections and deaths remains relatively low, despite the high level of infections, she said, thanks to vaccinations – and probably – previous infections. But the lack of universal masking means that even people like her, who do mask, are vulnerable.
The latest variant, called XBB.1.5, grew exponentially over the month of December, from about 1% of cases nationwide to 40% as of Dec. 31, according to data from the Centers for Disease Control and Prevention. The variant is likely behind the vast majority of cases in New York and New England.
Its growth is probably due to XBB.1.5's characteristics – it appears to bind even more tightly to receptors in the human body than its predecessors – as well as human behavior, such as traveling and not masking….” Read more at USA Today
Hiring, Wage Gains Eased in December, Pointing to a Cooling Labor Market in 2023
Unemployment rate edged down to match a half-century low of 3.5%
Employers in many sectors were still struggling late in the year to fill open positions, pushing up wages. PHOTO: CORBIS VIA GETTY IMAGES
“The U.S. labor market is losing momentum as hiring and wage growth cooled in December, showing the effects of slower economic growth and the Federal Reserve’s interest-rate increases.
After two straight years of record-setting payroll growth following the pandemic-related disruptions, the labor market is starting to show signs of stress. That suggests 2023 could bring slower hiring or outright job declines as the overall economy slows or tips into recession.
Employers added 223,000 jobs in December, the smallest gain in two years, the Labor Department said Friday. Average hourly earnings were up 4.6% in December from the previous year, the narrowest increase since mid-2021, and down from a March peak of 5.6%….” Read more at Wall Street Journal
FDA grants fast-track approval to experimental Alzheimer's drug
Why it matters: Lecanemab, developed by Japanese drugmaker Eisai and Biogen, is the first treatment shown to delay cognitive decline from Alzheimer's — which affects over six million people in the U.S.” [Axios]
Mega Millions jackpot rises to $1.1 billion after no winner on Friday night
Wyatte Grantham-Philips USA TODAY
“Another Mega Millions drawing, another night without a big winner.
No one hit all six numbers and won the estimated $940 million jackpot, pushing the lottery prize to an estimated $1.1 billion ahead of the next drawing Tuesday night.
The prize is now the third-largest in U.S. history.
There have been 24 drawings without a jackpot winner, stretching back for more than two months. The winless streak is largely due to the game’s long odds of 1 in 302.6 million.
The new estimated prize of $1.1 billion is for a winner who chooses an annuity paid annually over 29 years. Grand prize winners usually take the cash option, which for Tuesday night’s drawing will be an estimated $568.7 million….” Read more at USA Today